General Warranty Deed
A general warranty deed in real estate is a legal document used to transfer ownership of real property from one party (the grantor or seller) to another party (the grantee or buyer) with certain assurances and protections. This type of deed provides the highest level of protection to the buyer by guaranteeing that the seller holds clear and marketable title to the property and will defend against any claims to the title that may arise in the future.
Key features of a general warranty deed include:
1. Covenant of Seisin: The grantor warrants that they have legal title to the property and the right to convey it to the grantee.
2. Covenant of Right to Convey: The grantor warrants that they have the legal authority to transfer the property and that there are no restrictions or limitations preventing the transfer.
3. Covenant Against Encumbrances: The grantor warrants that the property is free and clear of any liens, mortgages, easements, or other encumbrances, except those specifically disclosed in the deed.
4. Covenant of Quiet Enjoyment: The grantor warrants that the grantee will have peaceful and undisturbed possession of the property without interference from third parties claiming an interest in the title.
5. Covenant of Warranty: The grantor agrees to defend the grantee against any claims to the title arising from defects or challenges to the ownership of the property, whether they arise during the grantor’s ownership or prior to it.
A general warranty deed provides the highest level of protection to the grantee, as it guarantees the seller’s legal ownership of the property and provides recourse for any title defects or challenges that may arise after the sale. It is commonly used in residential and commercial real estate transactions where the buyer seeks assurance of clear and marketable title.
In addition to the covenants outlined above, a general warranty deed typically includes a legal description of the property, the names of the grantor and grantee, and the purchase price or consideration for the transfer. Once executed and recorded with the appropriate county or municipal authority, the general warranty deed becomes a permanent and binding legal document that evidences the transfer of ownership of the property from the seller to the buyer.
